Key financial reports and metrics for small business
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This slide deck presents some ideas that small businesses can implement right now to help them get a much better handle on their finances. Starting from the most basic metric (cash in the bank) and working through additional key performance indicators, these slides will help you better understand your business finances. QuickBooks can easily be used as the foundation for creating many of these small business financial indicators.
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Key financial reports and metrics for small business
- 1. www.BetterBottomLine.com Key Financial Reports and Metrics for Small Business Presented by: Scott Gregory, Creator: “Beyond QuickBooks: Making Sense of Your Numbers”
- 2. www.BetterBottomLine.com Key Financial Reports and Metrics… Complete Slide Deck is Available at www.SlideShare.net Search for QuickBooks
- 3. www.BetterBottomLine.com Key Financial Reports and Metrics… Photo courtesy of EverystockPhoto.com – danperry.com
- 4. www.BetterBottomLine.com Key Financial Reports and Metrics… Photo courtesy of Google Images
- 5. www.BetterBottomLine.com Key Financial Reports and Metrics… Photo courtesy of Google Images
- 6. www.BetterBottomLine.com Key Financial Reports and Metrics… Every business needs a Scorecard …otherwise, how do you know how you’re doing?
- 7. www.BetterBottomLine.com Key Financial Reports and Metrics… Building YOUR Scorecard Start simple Beware of paralysis by analysis Forget about the “tax” issues
- 8. www.BetterBottomLine.com Key Financial Reports and Metrics… Building Your Scorecard Metric #1: Cash in the Bank • Pros? • Cons?
- 9. www.BetterBottomLine.com Key Financial Reports and Metrics… Building Your Scorecard Metric #2: Cash in the Bank + A/R – A/P
- 10. www.BetterBottomLine.com Key Financial Reports and Metrics… Building Your Scorecard Metric #2: A/R = ?
- 11. www.BetterBottomLine.com Key Financial Reports and Metrics… Building Your Scorecard Metric #2: A/P = ?
- 12. www.BetterBottomLine.com Key Financial Reports and Metrics… Building Your Scorecard Metric #2: Cash in the bank + A/R – A/P • Pros? • Cons? • Common Problems?
- 13. www.BetterBottomLine.com Key Financial Reports and Metrics… Building Your Scorecard Metric #3: Profit Report “How did we do”?
- 14. www.BetterBottomLine.com Key Financial Reports and Metrics… Building Your Scorecard Metric #3: Profit Report • Understanding it? • A major concern?
- 15. www.BetterBottomLine.com Key Financial Reports and Metrics… Building Your Scorecard Metric #3: Profit Report • Income • Cost of Goods (COGS) • Expenses
- 16. www.BetterBottomLine.com Key Financial Reports and Metrics… Building Your Scorecard Metric #3: Profit Report • A major concern before using this report is?
- 17. www.BetterBottomLine.com Key Financial Reports and Metrics… Building Your Scorecard Metric #3: Profit Report • “But my tax guy gives me this…” • How often?
- 18. www.BetterBottomLine.com Key Financial Reports and Metrics… Building Your Scorecard Metric #4: Balance Sheet • “What I Own…” • Understanding it • Assets, Liabilities, Equity
- 19. www.BetterBottomLine.com Key Financial Reports and Metrics… Building Your Scorecard Metric #4: Balance Sheet • Is the data right? • How often?
- 20. www.BetterBottomLine.com Key Financial Reports and Metrics… Building Your Scorecard Taking it to the next level… • A/R Turnover (how fast are you collecting?): Net Sales / Average A/R
- 21. www.BetterBottomLine.com Key Financial Reports and Metrics… Building Your Scorecard Taking it to the next level… • Inventory Turnover (how fast are you moving inventory?): Cost of Goods Sold / Average Inventory
- 22. www.BetterBottomLine.com Key Financial Reports and Metrics… Building Your Scorecard Taking it to the next level… • Average Sale per Invoice (excellent trending metric): Total Sales $ / Total # of invoices
- 23. www.BetterBottomLine.com Key Financial Reports and Metrics… Building Your Scorecard Taking it to the next level… • Gross Profit Margin: Gross Profit $ / Total Sales
- 24. www.BetterBottomLine.com Key Financial Reports and Metrics… Building Your Scorecard “MBA Level Stats” Profitability by product line Debt to equity Labor ratios Many others…
- 25. www.BetterBottomLine.com Key Financial Reports and Metrics… Building Your Scorecard Create a “Dashboard” of YOUR Key Metrics Makes it easy to spot trends
- 26. www.BetterBottomLine.com Key Financial Reports and Metrics… Building Your Scorecard Real Life Dashboard Example:
- 27. www.BetterBottomLine.com Key Financial Reports and Metrics… You do NOT have to be an accountant to use a scoreboard for your business* * - however, you may need help initially to help ensure your data is correct and your systems are working properly
- 28. www.BetterBottomLine.com Key Financial Reports and Metrics… Just like your pledge to deliver great products or services…. Make a pledge to develop and monitor your business scorecard!
- 29. www.BetterBottomLine.com 12 Things Every QuickBooks User… Questions? Comments! Scott Gregory E-Mail: Scott@BetterBottomLine.com Phone: (440) 527-5696 Web: www.BetterBottomLine.com